- SaaS company SRAX offers a robust suite of cutting-edge products that facilitate engagement between public companies and investors, both existing and potential
- SRAX forecasts a record first quarter of $11.5 million in revenue as part of 2022 revenue in the range of $46-$48 million
- The company bought back ~$800,000 during Q2 2021, paid a dividend in January, and optimized its cap table via the elimination of an ATM filing
There are common fundamental threads between investing 30 years ago and today, but many things are extremely different. The digital age has changed everything, and fintech companies like SRAX (NASDAQ: SRAX) have their finger on the pulse of the new modality, where investors and companies alike are all-in on transparency, social media, and big data. SRAX, recognizing the challenges public companies face in engaging and attracting investors, amassed a suite of solutions to help connect public entities with investment communities.
SRAX’s premier investor intelligence and communications platform, Sequire, is specialized to provide companies all the requisite tools necessary for a public company to thrive. The turnkey tech is designed to create long-term shareholders, host company events, communicate with stakeholders, and get in front of new potential shareholders via media campaigns and investment conferences.
In September 2020, SRAX acquired LD Micro, a firm that is arguably the best known data and event company serving the small and micro-cap space. From its LD Micro Index to its data sets and ultra-popular events, LD Micro is synonymous with information. Every year, hundreds of companies and thousands of investors participate in the company’s conventions, either digitally or in-person.
To that point, on January 27, the company’s 2022 Sequire Metals & Mining Conference was held. The preeminent virtual event (remaining digital in the covid environment) attracted 70+ premier metals and mining stock market companies and featured key opinion leaders for speeches and discussion panels. Investors can view replays of all the presentations here.
Operations are delivering increasing sales, as evidenced by bookings meeting expectations for the fourth quarter of 2021 and full year 2022 guidance in the range of $46 million to $48 million. That’s up by approximately 50% from unaudited revenue of $31.5 million in 2021.
Looking exclusively at the current quarter, SRAX forecast guidance of $11.5 million, more than doubling revenue from the quarter a year prior.
“The nature of our annual contracts provides us exceptional visibility into revenue,” said Christopher Miglino, Founder and CEO of SRAX. “We are projecting that we will have our largest quarter ever in Q1 of 2022,” he added in providing the 2022 guidance.
SRAX is executing on measures to build value for its shareholders. Last August, the company announced a new $10 million share repurchase plan, for which it bought-back about $800,000 worth of stock throughout the remainder of 2021 at an average price of $5.12 per share. Furthermore, SRAX made good on its promise to pay a dividend, giving SRAX shareholders preferred stock that translates to a cash payment or $0.01 per share.
Additionally, Miglino said that the company eliminated their “At The Market” filing, a means of raising capital by selling new shares into the market, further optimizing the SRAX cap table as the company continues to look for opportunities to reward it shareholders.
For more information, visit the company’s website at www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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